The Bank of Africa (BoA) Ghana Limited says it has "almost" completed processes needed to raise its minimum paid up capital to GHȻ400 million.

The Bank of Baroda (Ghana) Ltd has denied media reports it is winding up its operations in Ghana because it does not want to meet the GH₵400 million minimum capital requirement imposed on banks in Ghana by the Bank of Ghana.

The government is supporting private investors to raise up to GH¢2 billion to invest in some seven properly governed and solvent indigenous banks which are under-capitalised.

The Economic Management Team (EMT) has directed the Ministry of Trade and Industry to immediately suspend the January 1, 2019 single window system takeover by CUPIA of Korea Customs Service and Ghana Link Network Service Limited.

The Bank of Ghana (BoG) will, this week, announce the list of banks that have successfully raised their minimum capitals to GH₵400 million in compliance with its earlier directive, which elapsed on December 31, 2018.

The Ghana unit of Standard Bank of South Africa, Stanbic Bank Ghana Limited, has absorbed customers of the local subsidiary of Indian-state lender, Bank of Baroda under an arrangement that comes at no cost to the former.

Six indigenous banks have agreed to relinquish part of their stakes to the government in return for equity investment from the state to enable them to recapitalise to GH₵400 million.

Ghana has from October 2018 begun the monthly forfeiture of $40 million to Eni Ghana, as a result of the country’s failure to put in place appropriate infrastructure to off-take gas from Offshore Cape Three Point (OCTP) for the use of thermal plants.

The government is to announce a GH₵2 billion bailout package for some six indigenous banks to enable them to meet the Bank of Ghana (BoG) deadline on recapitalisation, which expires today, December 31.

The Chairman of Afro-Arab Group of Companies, Alhaji Abdul Salamu Amadu has won the Youth Empowerment and Community Development award at the Karifest Awards held at the Sheraton Awards in Abuja, Nigeria on December 20.

Kosmos Energy has announced the selection of 117 promising young entrepreneurs to participate in the Kosmos Innovation Center (KIC) 2019 AgriTech Challenge.

Central Bank of Kenya Governor Patrick Njoroge is closing the year having broken ranks with former employer, the International Monetary Fund (IMF), even as he is expected to apply the multilateral lender’s policies in the monetary sector.

The Ghana Revenue Authority (GRA) will on December 27 and 28, 2018 hold a public auction exercise where a number of overstayed vehicles and goods will be sold to the general public at Tema.

The Chairman of the Board of Directors of the Kwaebibirem Rural Bank, at Akyem Asuom in the Eastern Region, Mr Carlos Kingsley Ahenkorah, has stated that the bank has positioned itself strategically for the future in view of the challenges the banking industry has faced in recent times.

Cargill’s cocoa and chocolate business in Ghana has organised a Family Day event – blending fun, family and work in one well-planned occasion for its employees and their families.

A central database to register all merchants of telecom companies in the country is being developed as part of measures to sanitise the industry and check fraud. It is expected to be rolled out by the first quarter of next year.